In a recent interview, Berachain's anonymous co-founder, Smokey the Bera, shared candid insights about the project's journey, particularly focusing on their initial investment decisions. Smokey acknowledged that the criticisms they've faced concerning these early investment moves are indeed valid. He expressed that, if given a chance to start afresh, the team might have opted against selling a substantial portion of their token supply to venture capital firms.
Most notably, much of this supply was sold during the seed funding round in early 2022, a decision taken with the conviction that it represented an intriguing opportunity. At that time, the team did not foresee the significant growth and scale the project would ultimately achieve. Furthermore, Smokey noted the team’s ongoing commitment to repurchase shares from both the seed and subsequent Series A funding rounds.
This effort aims to alleviate the dilution of community ownership resulting from these earlier decisions, thereby reinforcing trust among the community and enhancing overall stakeholder engagement. The strategic approach towards share repurchase underscores Berachain's dedication to fostering a more robust and community-friendly ecosystem, essential for nurturing lasting relationships with their investors and users alike.
This introspection reflects a broader trend within the blockchain space, where transparency and community-focused strategies are becoming increasingly vital for long-term sustainability..